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iStar Financial Inc. Message Board

  • wareham2620 wareham2620 Mar 27, 2010 8:23 AM Flag

    Shaking but holding

    "330 people long this??? Are we looking at the same stock here folks? Let's break this down to the point where you see that I-Star is a glorified Jenga, ready to crumble when the next report comes out. How many more $4-$8 yearly EPS losses can this company deal with. 4.2 BILLION dollars still in non-performing status, over 11 BILLION dollars in long-term debts with minimal cash. Net investment income down almost 60%! Absolutely no change basically in loss provisions going forward while revenues tick down at about 20% per year. These guys are terminal as far as I'm concerned so tell me, even if they could get 80% of value for their assets, is there anything left?..."

    http://www.fool.com/investing/general/2010/03/10/5-stocks-shaking-the-market.aspx

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    • <"330 people long this??? Are we looking at the same stock here folks? Let's break this down to the point where you see that I-Star is a glorified Jenga, ready to crumble when the next report comes out. How many more $4-$8 yearly EPS losses can this company deal with. 4.2 BILLION dollars still in non-performing status, over 11 BILLION dollars in long-term debts with minimal cash. Net investment income down almost 60%! Absolutely no change basically in loss provisions going forward while revenues tick down at about 20% per year. These guys are terminal as far as I'm concerned so tell me, even if they could get 80% of value for their assets, is there anything left?..."

      http://www.fool.com/investing/general/20...>

      Lordy, Lordy, Lordy. Where do I start??? You must have not been following this board in recent months, and seen all the cash inflows of disposed NPA. The danger of an article like this is that it leverages old news and trends to buttress a straw man arguments.

      The dynamics since the beginning of the year have changed dramatically in this company's favor - due to significant dispositions of NPAs for hundreds of $millions since 1/1, a significant drop in 4Q2009 NPLs versus prior quarters, cash proceeds that will significantly drop the Fremont A commitment, and a general upswing in the overall CRE and financial sectors that is lifting all boats, etc etc.

      Citi recently upgraded this company for a reason. No doubt due to any and all the factors I mentioned above. This company isn't homefree, at least not yet. But the recent positive developments make that Fool article seem out of touch and outdated.

    • What a joke. Anyone that would make decisions based on fool comments is truly a "FOOL".

 

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